WASHINGTON -- CUNA is keeping open lines of communication in Washington, including with banking regulators.
CUNA President/CEO Dan Mica and General Counsel Eric Richard met with FDIC Chair Sheila Bair, a former Treasury official, Jan. 24 at the regulator/insurer's Washington, D.C. headquarters. Bill Hampel, CUNA's chief economist, explained, "That was just a meet and greet...nothing in particular. We've met with them before just to maintain relationships. We agree with the mission of the current chair and some of the things she's talking about."
Bair has recently praised a credit union for its payday loan alternative product. This attitude represents a 180-degree turn from previous Chairman Don Powell who recommended taxing credit unions at banker conferences.